The bobPay payment system consists of three payment options that Sellers can activate on their profile to offer to Buyers. They are:

bobPay Credit Card – Only available to Sellers who are verified users.

bobPay EFT – Available to all Sellers and is mandatory to offer as a payment option.

bobBucks - Available to all Sellers and is mandatory to offer as a payment option

Discovery Miles - Available to approved Sellers only.

bidorbuy reserves the right to remove any of these payment options from a Seller's profile if it is deemed appropriate to do so, in bidorbuy’s sole discretion.

Acceptance of bobPay Payments

If you choose to accept payments via bobPay (bidorbuy's online credit card payment or EFT system) you agree to the following:

By signing up for the bobPay Credit Card service or bobPay EFT service, you appoint bidorbuy to process payments on your behalf in accordance with your instructions, subject to the terms and restrictions of this Agreement. bidorbuy will at all times hold your funds separate from its corporate funds, will not use your funds for its operating expenses or any other corporate purposes, and will not voluntarily make funds available to its creditors in the event of bankruptcy or for any other purpose. You acknowledge the nature of bobPay and accordingly agree that the operation of bobPay is known to you and you accept that it is suitable for the purpose it is intended to be used and further to this you acknowledge that:

(i) bidorbuy is not a bank and the Service is a payment processing service rather than a banking service; and

(ii) bidorbuy is not acting as a trustee, fiduciary or escrow with respect to your funds, but is acting only as a custodian;

(iii) accepting bobPay credit card payments, there is a flat payment-processing fee of 5% payable on all payments conducted through bobPay (fees are non-refundable);

(iv) bidorbuy reserves the right to recoup any bank charges from either the Buyer or Seller when cash deposits or foreign inward transfers are made for bobPay EFT transactions. bidorbuy will first attempt to recover the bank charges from the Seller and if unsuccessful, the charges will be allocated to the buyer's account;

(v) any funds received into a Seller's account will first be offset against any fees incurred by the Seller (example: success fees, enhanced fees etc.) and therefore the amount to be paid out, when a payout request is made, could be less than the actual amount received.

(vi) all interest accruing on any amounts held by bidorbuy for you from time to time, including interest accruing on any Withheld Portion (as described in clause below), shall accrue for the benefit of bidorbuy, and you shall have no claim whatsoever in relation to such interest amounts.

(vii) bidorbuy does not hold a deposit-taking license (a banking license) and cannot hold funds on your behalf which are not the proceeds of payments due to from the sale of goods or services where the payment instructions were processed by bidorbuy on your behalf.

(viii) if bidorbuy holds funds on your behalf which are not the proceeds of payments due to you from the sale of goods or services processed by bidorbuy, that bidorbuy will endeavour to return such funds to the payment maker within a period of 48 hours after those funds were deposited into our bank account.

(ix) the use of bobPay EFT, bobBucks, bobPay Cash Deposit are mandatory payment options that sellers need to offer when selling on the bidorbuy site. bidorbuy in its sole discretion may choose to remove any of these payment options from a seller's profile.

(x) should any additional payments (over and above the actual order amount) be made through the bobPay system, bidorbuy reserves the right to charge a 5% fee for facilitating the payment on the excess amount paid.

Making Payments Via bobPay

If you wish to make a payment via bobPay (bidorbuy's online credit card payment or EFT system) you agree to the following:

You acknowledge that the Seller has appointed bidorbuy as an agent to collect money from Buyers on the Seller’s behalf and that once payment has been made by the Buyer, bidorbuy will pass these funds over to the Seller. Users will have no claim against bidorbuy for payments made to Sellers through the bobPay payment system and hereby expressly indemnifies bidorbuy against any claims that might arise from using the bobPay payment system.

You acknowledge that once payment has been made through the bobPay system that bidorbuy cannot guarantee that the funds can be recovered or returned in a case where a Seller is fraudulent. In such an event, the Buyer will have to deal directly with the Seller in order to recover any monies lost as a result of non-fulfillment of any sale transaction.

Important Note:

Each order has a unique reference number for each seller, so payments cannot be combined for different sellers. You must pay each seller separately using the relevent payment reference. You can combine payments to a particular seller (if there is more than one order from that seller), this will be seen as an "overpayment" for that order. But it's best to check with the seller and confirm shipping amounts to avoid any problems with the final payment amount.

You acknowledge that:

(i) bidorbuy is not a bank and the Service is a payment processing service rather than a banking service, and

(ii) bidorbuy is not acting as a trustee, fiduciary or escrow with respect to your funds.

Risk of Reversal of bobPay Credit Card And bobPay EFT Transactions

When you receive a payment through the bobPay Credit Card service, you have a choice of accepting it or rejecting it. If you choose to accept it you are not protected against a subsequent reversal of the transaction (or chargeback). In the event that the sender's transaction is reversed for any reason you will owe bidorbuy for the amount of the reversed transaction plus any fees imposed on bidorbuy as a result of the reversal. Examples of such a reversal include, but are not limited to, a credit card reversal by the sender of the payment and a reversal of the transaction because the sender of the payment was using a stolen credit card or unauthorised bank account.

In the unlikely event that a bobPay EFT transaction is reversed by a bank for whatever reason, you will owe bidorbuy for the amount of the reversed transaction plus any fees imposed on bidorbuy as a result of the reversal.

bidorbuy will seek to recover the funds from you by debiting your bidorbuy account balance and, if there are not sufficient funds in your bidorbuy account, bidorbuy reserves the right to collect your debt to bidorbuy by any other legal means.

Withholding: In order to cater for potential chargebacks and/or reversals on certain payment methods like credit cards, a certain percentage of all funds received on your behalf into bidorbuy's bank account, may be withheld for 4 months or such other specific period (Holding Period). During the Holding Period applicable to any specific funds received by bidorbuy, you will not be entitled to, and bidorbuy will not be obliged to, pay you the Withheld Portion of such funds. In the event that the funds held by bidorbuy on your behalf are not sufficient to pay a refund to a Payer, you will be liable to refund such Payer directly.

Acceptance and Use of Discovery Miles

The acceptance of Discovery Miles is subject to a 5% transaction fee (payable by the Seller). This option will only be available to approved bidorbuy Sellers at the sole discretion of bidorbuy. The acceptance and use of Discovery Miles as a payment option is subject to the Standard Terms and Conditions of Use for Discovery Miles located here. Payment by Discovery Miles is only open to Discovery Card Holders who have activated their Discovery Miles benefit. Please note: the monetary value of the Miles may be subject to change, without notice, as determined by Discovery Miles, from time to time. It can only be offered if bobPay EFT and bobBucks are selected as payment options.

Prohibited Transactions

You agree that you will not use bobPay to accept payment for illegal products or services, including but not limited to materials that infringe the intellectual property rights of third parties. You will not use the bobPay service, the bidorbuy website or any of the services offered therein for any unlawful or fraudulent activity. If bidorbuy has reason to believe that you may be engaging in or have engaged in fraudulent, unlawful, or improper activity, including without limitation any violation of any terms and conditions of this Agreement, your access to the bobPay service may be suspended or terminated. You will cooperate fully with bidorbuy to investigate any suspected unlawful, fraudulent or improper activity. You also agree not to use your bidorbuy account to sell securities, business opportunities, franchises, multi-level marketing, or for the pre-order of goods. You agree not to impersonate a bidorbuy User or a bidorbuy representative, or to request that a bidorbuy customer provide you with their password or other information to access their account.

Payment Limits

Payments of between R1.00(One Rand) and R10,000 (Ten Thousand Rand) will be accepted through the bobPay Credit Card payment system. These limits may however change at the discretion of bidorbuy.

There are no payment limits when making use of bobPay EFT.

Payout Requests

In order to withdraw funds that bidorbuy is holding in custody for you, you are required to make a payout request from the bobPay Payout Request page in the My bidorbuy Selling area of the bidorbuy website. The funds will then be transferred electronically to your designated bank account (South African banks only). Users have 1 (one) free payout in a calendar month, regardless of the amount requested. Thereafter a R5.00 (Five Rand) bobPay transfer fee will be charged for any payout amount under R3,000.00 (Three Thousand Rand). For amounts over R3,000.00 (Three Thousand Rand) no bobPay transfer fee will be charged. If a user has used their 1 (one) free payout and requests another payout below R3,000.00 (Three Thousand Rand), the R5.00 (Five Rand) bobPay transfer fee will be charged. If a user has R5.00 (Five Rand) in their account, the system will not process the payment if a bobPay transfer fee is applicable. A user can also not request less than R5.00 (Five Rand) as a payout.

Users will have a UI (user interface) where the banking details will be pre-populated with the last banking details entered. If not previously requested the banking details on file will be used, otherwise it will be left blank. The requester needs to make sure the banking details reflected are correct. bidorbuy will not be held responsible for incorrect banking details received for transfers.

The maximum payout amount allowed will be limited to the balance in a User's account and the UI will not allow you to request more. Between the times the request is made and the actual payout, the system will take into consideration any fees charged to your account and decrease the payout amount accordingly (if necessary). Before the payout is affected, you can make changes to your initial payout request. If a new request is made, it will replace the previous unprocessed request. If a request is made after the payout, the system will limit it to the available balance again, taking into consideration the payout made already.

Please note - bidorbuy reserves the right, from time to time, to request certified identity and address confirmation documentation before a payout request is processed.

No Surcharges

Under Visa, MasterCard, Diners and American Express regulations, merchants may not charge a fee to the Buyer for accepting credit card payments (often called a "surcharge"). You agree that you will not impose a surcharge or any other fee for accepting bobPay Credit Card, bobPay EFT or Discovery Miles as a payment method.

Processing

bidorbuy shall make reasonable efforts to ensure that requests for electronic debits and credits involving bank accounts and credit cards are processed in a timely manner. However, a number of factors, several of which are outside of our control, will contribute to when the funds are received. We make no representations or warranties regarding the amount of time needed to complete processing, such as delays in the banking system or the mail service, nor shall we be liable for any actual or consequential damages arising from any claim of delay.

Closing And Restricting Accounts

bidorbuy, at its sole discretion, reserves the right to close an account at any time for any reason, including but not limited to a violation of this Agreement, upon notice to the User and payment to the User of any unrestricted funds held in custody. bidorbuy, at its sole discretion, also reserves the right to periodically retrieve and review a business and / or consumer credit report for any account, and reserves the right to close an account based on information obtained during this credit review process.

Termination

bidorbuy, in its sole discretion, reserves the right to terminate this Agreement, access to its website, or access to the Service for any reason and at any time upon notice to you and payment to you of any unrestricted funds held in custody for you.

Security Features

bidorbuy strongly suggests that you use a web browser with 128-bit encryption. However, regardless of whether you use a web browser with security features, bidorbuy is unable to guarantee that data transmitted is secure and/or will not be intercepted by third parties.

It is your responsibility to, and you agree and warrant that you will, keep your username and password secure and confidential at all times in that you will only use your username and password for your own personal use and will not disclose your username and password to any other persons, or enable any other persons to otherwise access your bidorbuy Account. If you are a Legal Entity, you must further ensure that the persons authorised by you to access your bidorbuy Account do so within the scope of their authority and do not disclose your username and password to any unauthorised person or enable any unauthorised person to otherwise access your Merchant Account.

You are solely responsible for securing all data in your possession and/or under your control.

All of our web addresses begin with http://www.bidorbuy.co.za or https://www.bidorbuy.co.za and you should thus only log in to your bidorbuy Account from a page which begins with http://www.bidorbuy.co.za or https://www.bidorbuy.co.za. Please be aware of ‘phishing’ attacks where criminals attempt to obtain your confidential information by sending you an email, masquerading as an email from bidorbuy, asking you to access your account or verify information via links in the email, or diverting you to a fake bidorbuy website. bidorbuy will never ask you to confirm your password, username or other sensitive information by clicking on any links in an email. Please report any such suspected phishing attacks to bidorbuy immediately to prevent any harm to you or other bidorbuy users. Although bidorbuy will respond to any reported attack as quickly as reasonably possible, bidorbuy will not be held liable for any funds lost due to your having fallen prey to a phishing attack. It is your responsibility to be aware of such potential threats, to avoid them and to report them to bidorbuy upon discovery.

Should you believe that your username or password has become compromised (whether through a phishing attack or otherwise), or someone has accessed your bidorbuy Account without your authority, you must contact us immediately to enable us to limit the potential harm to you, it being agreed that bidorbuy will not be liable to you for any loss or damage you may suffer in such circumstances other than such loss or damage arising as a result of gross negligence on the part of bidorbuy.

It is the responsibility of the user to ensure that his password is strong enough. bidorbuy recommends that a password consist of at least 1 (one) special character and 7 (seven) alphanumeric characters and that it be changed every month.

Electronic Fund Transfer Rights And Error Resolution

It is very important that you contact us immediately if you believe your username and password has been compromised, or if someone has transferred or may transfer money from your account without your permission. It is also very important to ensure that your banking details are correct as bidorbuy will not be held responsible for making payouts to incorrect bank accounts when submitting your payout request.

You acknowledge that it is your responsibility to safeguard your password and that you indemnify bidorbuy against any claims whatsoever resulting from, but not limited to, unauthorized access to your account, unauthorized changes to banking details or payout requests to other bank accounts.

You can inspect your transaction history at any time by logging in to your account on the bidorbuy website. If your transaction history shows electronic funds transfers that you did not make or authorise, notify us at once. You need to contact our offices by telephone if your account has been compromised as emails could be delayed for various reasons.

Miscellaneous Disclaimers

bidorbuy reserves the right to hold funds beyond the normal distribution periods for transactions it deems suspicious or for accounts conducting high transaction volumes to ensure integrity of the funds.

bidorbuy will not be held responsible for incorrect banking details or incorrect amounts being provided by you which may lead to funds held by bidorbuy on your behalf being transferred to the incorrect party or recipient. It is your responsibility to ensure the accuracy of the provided banking details.

bidorbuy shall not be responsible for any fraud, deception or misrepresentations by Users, whether or not the User is Verified.

bidorbuy shall not be obligated to pay a User for any payments for which bidorbuy has not been fully paid by the sender's credit card issuer or bank, as applicable.

bidorbuy is not responsible for refunds or refunding payments, a refund may be given at our sole discretion and may take up to 30 days.

bidorbuy will not have any liability in connection with any unauthorised interception or use of data relating to you or the bidorbuy service; any inability by you to use or access the service or the bidorbuy website for any reason; any actions or transactions by an individual that uses your user name and password with your consent or knowledge; or any cause over which bidorbuy (Pty) Ltd. does not have direct control, including problems attributable to computer hardware or software (including computer viruses), telephone or other communications, or Internet service providers.

In no event shall bidorbuy be liable (i) for damages caused other than by intentional misconduct or (ii) for any indirect, special, incidental, consequential or punitive damages whatsoever (including, but not limited to, damages for lost profits, disclosure of confidential information, or loss of privacy), arising out of or in any way related to your use of or inability to use the Service or the bidorbuy website, even if bidorbuy (Pty) Ltd has been advised of the possibility of such damages. In no event shall bidorbuy (Pty) Ltd be liable for any act or omission of any third party (such as, for example, any provider of telecommunications services, internet access or computer equipment or software) or any circumstances beyond our control (such as, for example, a fire, flood, or other natural disaster, war, riot, strike, act of civil or military authority, equipment failure, computer virus, or failure or interruption of electrical, telecommunications or other utility services).

bidorbuy reserves the right to require Users who receive payments through bobPay and operate with high reversal rates or otherwise present a relatively high risk of losses to choose between closure of their bidorbuy account or entering into an additional agreement addressing such risks, which may include higher fees.